The Ascendancy and Fall of Neoliberalism in Kazakhstan: The Power Of Ideas
The Ascendancy and Fall of Neoliberalism in Kazakhstan: The Power Of Ideas

Summary/Abstract: Capitalist globalization can be characterized as the trans-nationalization of production and trans-nationalization of finance and global spread of neo-liberalism. In the end of 20’th century neo-liberalism, prescribing the unregulated market economy, minimization of ‘social state’, ‘free trade’ and massive privatization, became the dominant economic doctrine in place of Keynesianism, stipulating regulated market economy if needed and aiming to achieve the full employment. Moreover ‘neo-liberalism is a kind of philosophy…, substituting for all previously existing ethical beliefs’. Neo-liberal capitalism firstly gained hegemonic position in Great Britain and the USA, later was spread around the world through the neo-liberal restructuring programs adopted by the global institutions such as World Bank and International Monetary Fund (IMF), policies pursued by Transnational Corporations operating in global scale and through the leading universities, prominent intellectuals, politicians and big mass-media.

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